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South Africa's Netcare posts 25 pct rise in full-year earnings
November 18, 2013 / 7:21 AM / 4 years ago

South Africa's Netcare posts 25 pct rise in full-year earnings

JOHANNESBURG, Nov 18 (Reuters) - South African private hospital group Netcare Ltd reported a 25 percent rise in full-year profit on Monday, helped by a strong performance in its home market.

Netcare, which also operates in Britain, said adjusted headline earnings per share totalled 142 cents in year to end-September compared with 113.2 cents a year earlier.

Headline EPS, South Africa’s main profit gauge, strips out certain one-off items.

While demand for private healthcare has increased in South Africa thanks to a fast-growing middle class, tentative economic growth in the United Kingdom has led to a drop in the number of Britons with private medical insurance.

Netcare said revenue rose 10.4 percent to 27.8 billion rand ($2.73 billion). ($1 = 10.1690 South African rand) (Reporting by Tiisetso Motsoeneng; editing by David Dolan)

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